Indian markets on positive global cues and declining Covid 19 daily tally number was lifted a huge 975 points on the Sensex on Friday. The broader markets performed extremely well. As S&P 500 ended Friday's session on a flat note, and SGX Nifty at 5:05 am Indian time traded with gains of 1.20 percent, markets are likely to open on a positive note shrugging off the lockdown which has yet again extended in few of the places nationwide.
Asian markets at the time of writing this report traded mixed, with Nikkei up over 0.6 percent while South Korea's Kospi was down in trade.
1. Akzo Nobel:
Shares in paints manufacturing company will be in focus after Akzo Nobel reported a 37 percent jump in net profit in the review period to Rs. 87 crore. Income at the company also jumped to Rs. 780 crore as against Rs. 612.6 crore in the previous quarter.
2. Hero MotoCorp:
The two wheeler manufacturing company notified that the company will resume production at all of its facilities. Previously the company informed that the company began with single shift production at 3 of its facilities. The stock on Friday (May 21) ended at Rs. 2884.
3. Punjab and Sind Bamk:
The public sector lender turned into profitability for the first time in eight quarters. This was even as the income for the Q4 quarter came in lower sequentially at Rs. 1940 crore. Profit at the lender came in at Rs. 160 crore against Rs. 2375 crore loss in the previous quarter.
On recovery in demand across industries in India, the Aluminium company shares shall be in focus after the company posted a good 189 percent y-o-y jump in its Q4 profit to Rs. 1928 crore.
5. Adani Group Stocks
The Gautam Adani led group may again see some traction in its listed stocks after the billionaire has added more wealth than 19 other wealthiest Indians.
As per the Bloomberg Billionaire Index, Adani's fortunes have increased by $35.2 billion in 2021 so far, in comparison to a $24.5 billion addition in the total wealth of 19 other Indian billionaires.
6. Dr. Reddys
A PTI report suggests that the pharma company is developing a Covid 19 treatment that it aims at launching in a few months time with uninterrupted supply of its present treatment drugs. The company also launched Sputnik V vaccine in association with Defence Research and Development Organisation.
The stock ended on a sombre note on Friday at Rs. 5216.45 per share on the NSE.